Editing Late capitalism (section)

== Fredric Jameson's analysis==
{{Main|Fredric Jameson}}

[[Fredric Jameson]] borrowed Mandel's vision as a basis for his widely cited ''[[Postmodernism, or, the Cultural Logic of Late Capitalism]].<ref name="Jameson_Postmodernism_1991">{{cite book| title = Postmodernism, or, the Cultural Logic of Late Capitalism| location= Durham, NC | publisher=Duke University Press| year = 1991| title-link= Postmodernism, or, the Cultural Logic of Late Capitalism |oclc=948832273 |isbn=8190340328 |pages=[https://archive.org/details/postmodernismorc00jame_496/page/n449 438] }}</ref>'' Jameson's [[postmodernity]] involves a new mode of cultural production (developments in literature, film, fine art, video, social theory, etc.) which differs markedly from the preceding era of [[Modernism]], particularly in its treatment of subject position, temporality and narrative.

In the modernist era, the dominant ideology was that society could be re-engineered on the basis of scientific and technical knowledge, and on the basis of a popular consensus about the meaning of progress. From the second half of the 20th century, however, modernism was gradually eclipsed by postmodernism, which is skeptical about social engineering and features a lack of consensus about the meaning of progress. In the wake of rapid technological and social change, all the old certainties have broken down. This begins to destabilize every part of life, making almost everything malleable, changeable, transient and impermanent.{{cn|date=July 2023}}

Jameson argues that "every position on postmodernism today—whether apologia or stigmatization—is also...''necessarily'' an implicitly or explicitly political stance on the nature of multinational capitalism today".<ref>''The Jameson Reader'', p. 190</ref> A section of Jameson's analysis has been reproduced on the [[Marxists Internet Archive]]. Jameson regards the late capitalist stage as a new and previously unparalleled development with a global reach—whether defined as a multinational or informational capitalism. At the same time, late capitalism diverges from Marx's prognosis for the final stage of capitalism.<ref>''The Jameson Reader'' p. 164–171</ref>